Members of the South Dakota Public Utilities Commission held a news conference in Pierre Wednesday to talk about bonding and grain warehouses. Anderson Seeds of Redfield closed, leaving about sixty nine producers on the hook for about two point two million dollars. The company had posted a one hundred thousand dollar bond as required by state law. Commissioner Kristie Fiegen says they are proposing some changes in financial reporting for grain warehouses…
There have been some suggestions to set up a five million dollar indemnity fund similar to that in North Dakota. Fiegen says she believes that would be a tough sell…
[audio:http://prprt.itmwpb.com/wp-content/uploads/sites/688/2012/06/Kristie-Fiegen-627b.mp3|titles=Kristie Fiegen 627b]Fiegen says its not simple to change state law dealing with liens and creditors…
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The briefing was held during the Governors Ag Conference.